USD/CHF – 30M – SELLThe currency pair US Dollar/Swiss Franc (USD/CHF) jumps from the descending trendline downwards
A continuation of the downtrend downwards to the next support line at 0.87963 is considered certain.
Caution: A possible reversal of the trend in the direction of the resistance zone at 0.88478 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Three Line Strike – Bearish’ chart pattern is found. The candles show ‘Three Line Strike – Bearish’. which is a negative signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Line Strike – Bearish’ heading down is 84% (Bull Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.88943 |
| 2nd High | 0.88868 |
| Next High | 0.88478 |
| Current Price | 0.88440 |
| Next Low | 0.87963 |
| 2nd Low | 0.87952 |
| 3rd Low | 0.87510 |
Trading Signals: FOREX – USD – USD/CHF – CHF – Three Line Strike – Bearish